Accounting treatment of income tax refund and interest
This query is : Resolved
05 October 2024
Accounting treatment of income tax refund and interest in the case of individuals.How to make journal entry in the books of accounts.
CA R SEETHARAMAN
(Expert)
05 October 2024
Account it against income tax under assets side excess income tax paid waiting for refund.
Account interest received against other income.
Account interest received against other income.
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